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Code · Kentucky · Chapter 81 — City classification, boundaries, and alternative method of consolidating governmental services

81.440 Obligations and special taxes are unimpaired.

77 words·~1 min read·/ky/chapter-81/81-440

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A merger or consolidation shall not impair contractual obligations of either of the combined cities. Tax levies authorized for the payment of interest and the retirement of bonds or to create sinking funds for such purposes shall continue to be levied and collected over the same area by and for the new governing body in accordance with the laws under which the levies were originally made until all bonded obligations of the old city have been retired.
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